LOS ANGELES-Lee & Associates president and chairman of the board Ed Indvik has resigned, and in his place, the brokerage firm has named Jeff Rinkov as his interim successor, GlobeSt.com reports in this exclusive story. The transition in leadership is a positive change supported by Indvik and the executive committee to continue to grow and expand the firm's brand in major national markets and important submarkets.
“We have moved across the country, populating the East Coast, Southeast and Midwest, and we added appraisal and facilities management,” Indvik tells GlobeSt.com. “We have come to find that we need another form of governance where we have a larger executive team. We are in the middle of evaluating that to come up with the right form to then catapult our growth to the next level.”
Rinkov has been named interim president and chairman of the board for a six-month period while the firm determines the type of leadership it needs to continue its projected growth. During that time, Rinkov will also decide if he would like to be considered for the position permanently. In the position, he will carry out the firm's strategy and growth objectives.
“My predecessor Ed Indvik did an outstanding job in providing vision and leadership, not only within the organization, but for our growth strategy and initiative,” Rinkov tells GlobeSt.com. “As we have grown, we are now seeing the need to get to the next level, and we are looking to increase our presence nationally.”
Rinkov is additionally the president of Lee & Associates Central Los Angeles, and he will continue in this position while stepping into this new role. Indvik will remain with Lee & Associates as vice chairman of the investment and services group and will continue to broker as he has done throughout his career.
The two colleague's have the upmost respect for each other. “Ed is one of my personal mentors. I worked with him and for him in the City of Commerce, and he did a great job,” says Rinkov. “We were excited about what we were able to accomplish under Ed's leadership, and we have an equal level of excitement now about what we are doing to grow our brand.” Likewise, Indvik explains, “I have tremendous respect and admiration for Jeff's abilities. He is extremely smart and very capable. I couldn't be happier and thankful that Jeff was willing to take this on.”
Lee & Associate's expansion includes building technology and marketing platforms and increasing the firm's presence on a national scale. “From an operations standpoint, we are looking to build some infrastructure that will help support our national brokerage teams in various markets, and it is also going to help our growth strategy in major markets where we don't currently have a presence,” says Rinkov.
In other employment news, GlobeSt.com reported last month that real estate investment firm BentleyForbes named Jeff Warwick as CEO. Warwick was formerly the managing director of US investments at Portman Holdings.
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Kelsi Maree Borland
